In a recent transaction on May 1, Achilles B. Kintiroglou, the Senior Vice President and General Counsel of AdvanSix Inc . (NYSE:ASIX), sold 3,661 shares of company stock at a price of $25.23 per share. The total value of the stock sold amounted to $92,367. Following the sale, Kintiroglou's remaining holdings in AdvanSix total 35,335 shares.
The transaction was conducted under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which Kintiroglou had adopted on November 9, 2023. Such plans allow company insiders to establish predetermined trading arrangements for selling stocks at a time when they are not in possession of material non-public information, providing an affirmative defense against allegations of insider trading.
AdvanSix Inc., a company incorporated in Delaware and headquartered in Parsippany, New Jersey, is known for its work in the plastics and synthetic resins industry. The company's stock is publicly traded and can be found under the ticker symbol NYSE:ASIX.
Investors and market watchers often pay close attention to insider transactions as they provide insights into executives' perspectives on the company's value and future performance. The recent sale by Kintiroglou is a notable event, as transactions by high-ranking executives are closely monitored for the signals they may send about a company's financial health and prospects.
InvestingPro Insights
AdvanSix Inc. (NYSE:ASIX) has been navigating a challenging market environment, reflected in its recent stock performance and financial metrics. According to real-time data from InvestingPro, AdvanSix has a market capitalization of approximately $591.78 million and is trading near its 52-week low, with a price that is 54.17% of the 52-week high. The company's price-to-earnings (P/E) ratio stands at 10.84, adjusting to 12.64 for the last twelve months as of Q4 2023, suggesting a valuation that may be attractive to value investors.
Despite recent revenue declines, with a -21.18% change in the last twelve months as of Q4 2023, and a gross profit margin of 10.76%, AdvanSix has demonstrated a commitment to shareholder returns. The company has raised its dividend for three consecutive years, boasting a dividend yield of 2.49% and a dividend growth of 10.34% in the same period. Additionally, management has shown confidence in the company's prospects through aggressive share buybacks.
Investors considering AdvanSix may also take note of the company's volatility, as highlighted by an InvestingPro Tip, which indicates that stock price movements have been quite volatile. This could be an important factor for risk-averse investors. Moreover, analysts predict that the company will be profitable this year, a sentiment supported by the profitability over the last twelve months. For those seeking more detailed analysis and additional InvestingPro Tips for AdvanSix, including insights on earnings expectations and fair value estimations, visit InvestingPro. There are 6 more tips available on InvestingPro that could provide a deeper understanding of the company's financial health and market position.
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